Because if it were passive, I was wondering if I could use our carryover passive activity loss from our real estate rentals (we do active participation but cannot use the PAL against regular income due to income limit). 

Also, would I use a business loan for  refinance/finance process (since I'm buying it as an LLC and not myself) or regular mortgage as I do for my primary home?

You want to consider over the next 10-20 years the property will most likely appreciate, you do have tax benefits with rental property, the income is taxed as passive income which is less than regular income and you will pay capital gain tax when you sell verses regular income tax plus it can also be put into an SDIRA.

A 401k (and other similar things) basically are regular investment accounts that are called retirement accounts in the US and have some special tax treatment (either now or upon withdrawal).

In the mean time I do not want to live a life of self imposed impoverishment, then someday to live the same life with out a regular job.  

These are my goals and I feel all are realistic and attainable this year.

it helps your professional look - to regular customer-like people.

you will attain better returns, with less risk.you are young, with time on your side.

I buy regularly at about 20% fmv, but that doesn't make a bit of this easy.

I enjoy helping others and do so freely and I am also a regular presenter at my real estate club but receive no compensation for that.However, I wouldn't consider myself a guru or a coach, just someone who remembers what it was like when I started out.